Finance Minister emphasises future prosperity and stability
In a passionate address, Shaikh Salman bin Khalifa Al Khalifa, the Finance and National Economy Minister, highlighted the vital importance of providing opportunities and hope for everyone in the region. Recognising the need to transcend traditional divisions based on ethnicity or religion, the minister called for a clear distinction between those who are dedicated to building a brighter future and those who seek to sow discord and destruction. His words emphasised the crucial role of unity in ensuring the ongoing prosperity, security, and stability of the region.
The future of this region, its prosperity, and its security and stability are underpinned by providing opportunities and hope for all, said Shaikh Salman.
“The people who should write the future are the builders in the region, and that’s what we need to ensure we are empowering,” he said.
Shaikh Salman said that one of the main challenges facing many countries was implementing ambitious plans and programmes of governments and the ideas and projects of entrepreneurs. He said this required involving the private sector as a key driver and active partner in the implementation of those plans and ideas in a manner that drives economic growth.
The minister made those remarks during the plenary session “Balancing the Meaning of Finance” on the second day of the seventh edition of the Future Investment Initiative (FII7) in Saudi Arabia.
Other speakers in the session included Saudi Finance Minister Mohammed bin Abdullah Al Jadaan; Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF); and Andrew Griffith, the Economic Secretary to the Treasury in the United Kingdom.
Shaikh Salman said that the diversification of economies creates resilience that boosts economic development, noting that Saudi Arabia has made huge strides in this regard.
He said that non-oil sectors made up 83 per cent of Bahrain’s GDP, due to its diversification policies that consolidate the stability, growth, and competitiveness of Bahrain’s economy.
The minister highlighted the attributes of the Bahraini economy that encourage investment and the development of business, which have led to increasing economic activity and creating many promising opportunities.
Shaikh Salman emphasised that security and stability were a requirement for development, underscoring the importance of international cooperation to continue working on building a resilient economy that is insulated from global challenges.